Page 18 - AfrOil Week 22 2021

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global recovery in fuel demand. Significant devaluation
(NRG), in which the reader is invited to join of the Russian ruble since the pandemic began
our team of international editors, who provide a was also a major factor.
snapshot of some of the key issues affecting their
regional beats. We hope you will like NRG’s new GLNG: Venture Global unveils CCS plan for
concise format, but by clicking on the headline Louisiana LNG projects
link for each section the full text will be available US-based Venture Global LNG announced last
as before. week that it would develop carbon capture and
storage (CCS) capacity to serve two of its LNG
AsianOil: ConocoPhillips to exit Corridor export projects on Louisiana’s Gulf Coast. Ven-
block in Indonesia ture Global said that the CCS project still needed
US super-major ConocoPhillips is reportedly regulatory approvals but was shovel-ready.
gearing up to walk away from the Corridor nat-
ural gas block onshore Indonesia. The deputy LatAmOil: Hess, ExxonMobil optimistic
head of upstream regulator SKK Migas, Fatar about Yellowtail project
Yani Abdurrahman, revealed last week that the US-based Venture Global LNG announced last
company had told the agency that it wanted to week that it would develop carbon capture and
relinquish its stake in the licence. storage (CCS) capacity to serve two of its LNG
export projects on Louisiana’s Gulf Coast. Ven-
DMEA: Kuwait finishes CFP ture Global said that the CCS project still needed
Kuwait’s downstream-focused KNPC this week regulatory approvals but was shovel-ready.
announced that it had completed a new hydro-
cracking unit at the Mina Abdullah refinery. MEOG: Azadegan, West Qurna-2 in focus
This move signals the completion of work on the Iran’s NIOC signed memoranda of understand-
$15.7bn CFP. ing (MoUs) with Persia Oil & Gas Industry
Development Co. (POGIDC) for the north-
EurOil: OIES report raises doubts about ern sector of the 32bn barrel Azadegan, with
SGC expansion Petropars and PetroIran Development Co.
A report published by the Oxford Institute (PEDCO) for the central sector, and with inde-
for Energy Studies (OIES) has cast doubt on pendents Pasargad Energy Development Co.
whether an expansion at the Southern Gas Cor- (PEDC) and Dana Energy for the southern
ridor (SGC) gas pipeline network will go ahead, sector.
pointing to unfavourable market and political
conditions. Shah Deniz’s first phase has supplied NorthAmOil: Shareholders put pressure on
6.6bn cubic metres per year of gas to Turkey for super-majors
many years, but the contract with Turkish firm US super-majors Chevron and ExxonMo-
Botas expired on April 17, bringing supplies to bil both suffered defeats at the hands of their
a standstill. Botas instead wants to import more shareholders last week. In ExxonMobil’s case,
spot-priced LNG to save on cost. a relatively small activist investor hedge fund
succeeded in having at least two of its nomi-
FSU OGM: Lukoil beats expectations in nees elected to the company’s board. Mean-
Q1-2021 while, Chevron shareholders voted nearly 61%
Russia’s Lukoil swung to a net profit of in favour of a proposal to force the super-major
RUB157bn ($2.14bn) in the first quarter, ver- to cut its Scope 3 greenhouse gas (GHG) emis-
sus a RUB46bn loss a year earlier, on the back sions – or those generated by customers using its
of higher oil prices, increased gas supply and a products. ™

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P18 www. NEWSBASE .com Week 22 02•June•2021